Spot ethanol prices slumped as part of a broader market selloff, with Chicago Board of Trade corn futures and New York Mercantile Exchange RBOB futures posting massive losses Tuesday.
Prompt delivered ethanol at the Argo supply hub in the Chicago market was pegged at $1.57 per gallon, down 4.5 cents, while ethanol under Rule 11 for this week shipment was pegged 4.0 cents lower at a $1.54 to $1.59 per gallon bid/ask. Pacific Northwest spot prices traded at $1.74 per gallon, down 5.0 cents. Arizona spot prices were talked at $1.69 per gallon, down 3.0 cents.
George Orwel can be reached at firstname.lastname@example.org.
© Copyright 2016 DTN/The Progressive Farmer. All rights reserved.